BIRKENSTOCK SET TO DIP UP TO 13% IN UNDERWHELMING US MARKET DEBUT

Birkenstock (BIRK.N) shares were set to open as much as 13% below their offer price in a tepid U.S. market debut on Wednesday, underscoring the challenges for new listings even after some highly anticipated IPOs last month raised hopes of a rebound.

Shares of the 250-year-old German sandal maker were set to open between $40 to $42 on the New York Stock Exchange, compared with the initial public offering price of $46 each.

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